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The GoHelpFund, a distributed platform powered by Amazon Web Services and Ethereum, will allow people to donate to causes like preventing poverty and terrorism using a cryptocurrency called HELP that will allow for instant transfers.
GoHelpFund envisions a large opportunity as the first blockchain based fundraising platform. The platform will soon migrate to a proprietary blockchain with increased flexibility for allowing features like master nodes. It will have artificial intelligence and machine learning features that will make using the platform easy and reliable.
The project marks the first global platform to bring together non-government organizations (NGOs), individuals and donors, offering the fastest way for NGOs and individuals to secure funds without the overhead of traditional payment methods.
The goals include eradicating poverty, child protection and inclusion, protecting human rights, promoting sustainable development, countering terrorism and other social actions.
Consensus Breakthrough Technology
The project’s underlying technology consists of machine learning, artificial intelligence and a consensus breakthrough called Advanced Distributed Edge Network (A.D.E.N.) A.D.E.N. will enable the flexibility to deploy features like master nodes.
In theoretical computer science, CAP theorem holds that it is not possible for distributed data to simultaneously store more than two of the three following guarantees: consistency, availability and partition tolerance. Hence, there are three possible combinations of three guarantees: consistent and available, consistent and partition tolerant, and available and partition tolerant.
In the existing distributed data/blockchain ecosystem, all systems are part of consistent and available or consistent and partition tolerant.
Bitcoin and Ethereum are consistent and available while IOTA and RaiBlocks are consistent and partition tolerant.
GoHelpFund, through its A.D.E.N. architecture, will offer a breakthrough solution that will provide a third set of guarantees by reaching a “sweet spot” in the consensus algorithm that will deploy on the GoHelpFund platform as the foundation for distributed data.
HELP Token To Facilitate Donations
The HELP token is based on the ERC20 token standard.
Donors will use cryptocurrency or fiat to support fundraising campaigns on the platform that will automatically convert to GoHelpFund’s HELP token. The donations will convert to HELP tokens via cryptocurrency exchanges. Once donations are converted, they will create volume for HELP, thereby encouraging the tokens’ adoption over time.
Since the tokens exist on the blockchain, the tokens will be transparent through all steps of the campaign, thereby allowing donors and supporters to know how the funds are being used through the campaign.
Token Sale Scheduled
The token sale will begin Feb. 24 at 18:00 UTC+2 and end March 24, at 18:00+2. There will be 15% bonus tokens starting Feb. 24 and 5% bonus tokens starting March 3.
The sale will accept contributions in Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, Monero, Binance Coin and Dash.
A total of $125,000 was raised in the pre-sale.
A total 50 million tokens will be created, of which 10% will be allocated to team members which will be locked every two years with a progressive unlock of one year to ensure a healthy transition into the market. Another quarter of the tokens will be allocated for the mining reserve, which will be available following migration to the proprietary blockchain.
Another 5% will be allocated for the bounty campaign, which will be locked for six months, with a progressive unlock of six months to ensure a healthy market transition.
An additional 10% will be allocated to the Help Foundation for fundraising charity donations, humanitarian support awareness and participation in live events.
Ethereum will be used as a reference coin for contribution value, with the conversion rate being 5,000 HELP for one ETH.
The minimum contribution will be the equivalent value of 0.1 ETH.
Tokens will be distributed following the sale.
Forty percent of the funds will be used for developing the platform. A quarter will be used for advertising and marketing; 15% will be used for infrastructure; and 10% will be for legal expense and another 10% for security costs.
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from Crypto Currency Online https://cryptocurrencyonline.co/gohelpfund-develops-blockchain-platform-to-make-donations-transparent/